OK BP I'm going to need your help with this one!

[Adam T. Veitenheimer]

I found an amazing deal that I am looking for help to initiate.

The Gist, 13 duplex properties; 26 2bd/1bth units currently fully occupied and renting at $700 per unit (which is low for the area, $750-$850 is more common). These properties are a bulk deal listed at $1,235,000. Taxes are approximately $1300 per month total for all properties.

After crunching the numbers, taking out for the payment, interest, insurance, taxes you are left with a cash flow approx. $14,000 per month. (not including PM, & Reserves for evictions, replacements, etc.) A property management company would be used to maintain these units at 8%.

So the numbers make sense that this is a great deal. So my question BP is, knowing that I would need a commercial mortgage to acquire this investment:

What options do I have as a beginner investor? I have liquid reserves available but no where near the requirement for the down payment.

Is it possible to get a loan for a down payment on this and then refinance both loans after a few months into a single 30 year, being that it is 13 separate properties?

Are there other options?

I appreciate any help.

[Account Closed]

@Adam T. Veitenheimer

One quick thought would be to work with the bank that currently holds the note.  If the property has been performing they will be good choice to use as a lender.